Toronto & Vancouver housing markets are now exclusive to households with either intergenerational wealth and/or high-paying jobs.

It still boggles my mind when I read something like this​P.S. -Thank you everyone for your comments. I live in Calgary with my wife & we are homeowners. So this post is not another rant about missing the boat. In fact, it’s the opposite. It’s about equality & sustainability. How can a city like Toronto or Vancouver thrive long-term without a class divide or unrest if a family requires twice the median income to afford a condo or if the majority of income goes into paying rent? How can we be ok with that? How can a city like that still allow foreigners to buy investment properties? How can rich investors still be allowed to speculate in the housing market when many can’t even afford a downpayment without substantial help? via /r/PersonalFinanceCanada https://ift.tt/36PjzUY